CompTIA Project+: key terms

Flashcards for this exam CompTIA Project+ guide Class dates

• A Guide to the Project Management Body of Knowledge (PMBOK Guide)PMI's foundational standard and guide describing project management principles, performance domains, and practices.Foundational
• ActivityA distinct, scheduled portion of work performed during the course of a project.Foundational
• Actual CostThe realized cost incurred for the work performed on an activity during a specific time period.Foundational
• Adaptive ApproachA development approach in which requirements are elaborated and refined iteratively as the project proceeds.Foundational
• Agile ManifestoThe 2001 Manifesto for Agile Software Development, stating four values and twelve principles.Foundational
• Analogous EstimatingTechnique for estimating duration or cost using historical data from a similar activity or project.Foundational
• AssumptionA factor in the planning process that is considered true, real, or certain without proof or demonstration.Foundational
• Benefit-Cost Ratio (BCR)Ratio of the present value of benefits to the present value of costs.Intermediate
• Bid DocumentsDocuments used to solicit information, quotations, or proposals from prospective sellers.Foundational
• Bidder ConferenceMeetings with prospective sellers before proposal submission to ensure all have a clear, common understanding of the procurement.Intermediate
• Bottom-Up EstimatingMethod of estimating by aggregating estimates of lower-level WBS components.Foundational
• Budget at Completion (BAC)The sum of all budgets established for the work to be performed.Foundational
• Budget EstimateAn estimate prepared during planning with an accuracy range often cited as -10% to +25%.Intermediate
• Burndown ChartChart showing remaining work versus time in an iteration or release.Foundational
• Burnup ChartChart showing completed work rising over time against a separate total scope line.Foundational
• Change Control Board (CCB)A formally constituted group responsible for reviewing, evaluating, approving, deferring, or rejecting changes to the project.Foundational
• Change LogA comprehensive list of changes submitted during the project and their current status.Foundational
• Change Management PlanComponent of the project management plan establishing the change control board, its authority, and how change control will be administered.Intermediate
• Change Request (CR)A formal proposal to modify a document, deliverable, or baseline.Foundational
• Close Project or PhaseProcess of finalizing all activities for the project, phase, or contract.Foundational
• Communication ChannelsThe number of potential communication paths among project stakeholders: n(n - 1) / 2.Foundational
• Communication MethodsThe approaches for sharing information: interactive, push, and pull.Foundational
• Communication ModelModel describing how information is exchanged between sender and receiver, including encoding, transmitting, decoding, acknowledging, and feedback.Intermediate
• Communications Management PlanComponent of the project management plan describing how, when, and by whom information will be administered and disseminated.Foundational
• Conduct ProcurementsProcess of obtaining seller responses, selecting a seller, and awarding a contract.Intermediate
• Conflict ManagementApproaches to resolving disagreements: withdraw/avoid, smooth/accommodate, compromise/reconcile, force/direct, and collaborate/problem-solve.Foundational
• ConstraintA limiting factor that affects the execution of a project, program, portfolio, or process.Foundational
• Contingency PlanA predefined response to implement if a risk trigger occurs.Intermediate
• Contingency ReserveTime or money allocated in the baseline for identified risks with planned responses ('known-unknowns').Foundational
• Contract TypesCategories of agreements that allocate risk between buyer and seller: fixed-price, cost-reimbursable, and time and materials.Foundational
• Control ChartA graph showing process data over time against a mean and upper and lower control limits to determine whether a process is stable.Foundational
• Control ProcurementsProcess of managing procurement relationships, monitoring contract performance, making changes, and closing contracts.Intermediate
• Control QualityProcess of monitoring and recording quality activity results to ensure outputs are complete, correct, and meet expectations.Intermediate
• Control ScopeProcess of monitoring the status of project and product scope and managing changes to the scope baseline.Foundational
• Cost BaselineThe approved, time-phased budget of the project, excluding management reserves.Foundational
• Cost of Quality (COQ)All costs of preventing nonconformance, appraising conformance, and failing to meet requirements over the product life.Foundational
• Cost Performance Index (CPI)Measure of cost efficiency of budgeted resources: CPI = EV / AC.Foundational
• Cost Variance (CV)The amount of budget deficit or surplus at a point in time: CV = EV - AC.Foundational
• CrashingSchedule compression technique that shortens duration by adding resources, usually at increased cost.Intermediate
• Create WBSProcess of subdividing project deliverables and work into smaller, more manageable components.Foundational
• Critical PathThe sequence of activities that represents the longest path through a project and determines the shortest possible duration.Foundational
• Critical Path Method (CPM)Method used to estimate the minimum project duration and determine schedule flexibility on logical network paths.Foundational
• DecompositionTechnique for dividing and subdividing scope and deliverables into smaller, more manageable parts.Foundational
• Define ScopeProcess of developing a detailed description of the project and product.Foundational
• Definitive EstimateA detailed, high-accuracy estimate typically in the range of -5% to +10%.Intermediate
• Dependency TypesClassification of activity dependencies as mandatory, discretionary, external, or internal.Intermediate
• Determine BudgetProcess of aggregating estimated costs of activities or work packages to establish an authorized cost baseline.Intermediate
• Direct and Indirect CostsDirect costs are attributable directly to the project; indirect costs are shared overhead allocated across projects.Foundational
• Earned Value (EV)The measure of work performed expressed in terms of the budget authorized for that work.Foundational
• Earned Value Management (EVM)Methodology that integrates scope, schedule, and resources to objectively measure project performance and progress.Foundational
• Enterprise Environmental Factors (EEF)Conditions, not under the immediate control of the team, that influence, constrain, or direct the project.Foundational
• Estimate at Completion (EAC)The expected total cost of completing all work: commonly EAC = AC + ETC.Intermediate
• Estimate CostsProcess of developing an approximation of the monetary resources needed to complete project work.Foundational
• Expected Monetary Value (EMV)Statistical value calculated as probability multiplied by impact for a risk, summed across outcomes.Intermediate
• Fast TrackingSchedule compression technique in which activities normally done in sequence are performed in parallel for at least part of their duration.Intermediate
• Final ReportSummary of project performance prepared at closure.Foundational
• Firm Fixed Price Contract (FFP)Contract in which the price is set and not subject to change unless scope changes.Foundational
• Fishbone DiagramA cause-and-effect diagram that organizes potential causes of a problem into categories.Foundational
• Fixed and Variable CostsFixed costs do not change with production volume; variable costs change with the amount of work or output.Foundational
• Functional RequirementA requirement describing a capability or behavior the solution must provide.Foundational
• Gantt ChartA bar chart of schedule information with activities listed vertically and dates horizontally.Foundational
• Gold PlatingAdding extra features or functions beyond what was agreed, without customer request or approval.Foundational
• Grade vs. QualityQuality is how well characteristics meet requirements; grade is a category for items with the same use but different technical characteristics.Foundational
• Hybrid ApproachA combination of predictive and adaptive elements chosen to fit the project and its environment.Intermediate
• Identify RisksProcess of identifying individual project risks and sources of overall project risk and documenting their characteristics.Foundational
• Individual Project RiskAn uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.Foundational
• Integrated Change ControlProcess of reviewing all change requests, approving or rejecting them, and managing changes to deliverables, documents, and the plan.Foundational
• Internal Rate of Return (IRR)The discount rate at which a project's net present value equals zero.Intermediate
• IssueA current condition or situation that may have an impact on project objectives.Foundational
• Issue LogA project document where information about issues is recorded and monitored.Foundational
• Kanban BoardA visual board with columns representing workflow states and cards representing work items.Foundational
• Knowledge AreaAn identified area of project management defined by its knowledge requirements and processes.Foundational
• Lessons Learned RegisterA project document recording knowledge gained during the project for use on the current and future projects.Foundational
• Logical Relationship TypesThe four dependency types between activities: finish-to-start, start-to-start, finish-to-finish, and start-to-finish.Intermediate
• Make-or-Buy AnalysisAnalysis used to determine whether work or deliverables are best produced internally or purchased externally.Foundational
• Manage QualityProcess of translating the quality management plan into executable quality activities that incorporate quality policies.Intermediate
• Milestone ChartA summary schedule that shows only the planned start or completion dates of major deliverables and external interfaces.Foundational
• NegotiationDiscussion aimed at reaching an agreement between parties with shared or opposed interests.Foundational
• Net Present Value (NPV)The present value of future cash inflows minus the present value of outflows, discounted at a required rate.Intermediate
• Operations ManagementOversight of ongoing, repetitive business activities that produce and sustain products or services.Foundational
• Opportunity CostThe value of the next-best alternative forgone when a choice is made.Intermediate
• Organizational Process Assets (OPA)Plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.Foundational
• Organizational StructureHow an organization arranges authority, reporting, and resources, affecting project manager authority.Foundational
• Parametric EstimatingTechnique using an algorithm or statistical relationship between historical data and variables to calculate estimates.Foundational
• Pareto ChartA bar chart sorted in descending order of frequency with a cumulative percentage line, used to identify the vital few causes.Foundational
• Payback PeriodThe length of time required to recover the initial investment from net cash inflows.Foundational
• Perform Qualitative Risk AnalysisProcess of prioritizing individual project risks by assessing their probability of occurrence and impact.Foundational
• Phase GateA review at the end of a phase to decide whether to continue, modify, or end the project or program.Foundational
• Plan Risk ResponsesProcess of developing options, selecting strategies, and agreeing on actions to address overall and individual project risks.Foundational
• Planned Value (PV)The authorized budget assigned to scheduled work.Foundational
• Planning PokerConsensus-based estimation technique in which team members privately select cards and reveal them simultaneously.Foundational
• Power/Interest GridA stakeholder mapping tool that classifies stakeholders by level of authority (power) and concern (interest).Foundational
• Precedence Diagramming Method (PDM)Technique for constructing a schedule model in which activities are represented by nodes and linked by logical relationships.Intermediate
• Predictive ApproachA development approach in which scope, schedule, and cost are determined in detail early in the life cycle.Foundational
• Preventive ActionAn intentional activity that ensures the future performance of project work is aligned with the plan.Foundational
• Probability and Impact MatrixA grid that maps the probability of each risk against its impact on objectives to prioritize risks.Foundational
• Process GroupA logical grouping of project management processes: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.Foundational
• Procurement Statement of Work (SOW)A description of the procurement item in sufficient detail to allow prospective sellers to determine if they can provide it.Foundational
• Product ScopeThe features and functions that characterize a product, service, or result.Foundational
• ProgramA group of related projects, subsidiary programs, and activities managed in a coordinated way to obtain benefits not available individually.Foundational
• Progressive ElaborationThe iterative process of increasing the level of detail in a plan as more information and more accurate estimates become available.Foundational
• ProjectA temporary endeavor undertaken to create a unique product, service, or result.Foundational
• Project BudgetThe total funds authorized for the project, consisting of the cost baseline plus management reserves.Intermediate
• Project CharterA document issued by the sponsor that formally authorizes the project and gives the project manager authority to apply resources.Foundational
• Project Cost ManagementProcesses involved in planning, estimating, budgeting, financing, managing, and controlling costs to complete the project within budget.Foundational
• Project Integration ManagementProcesses and activities that identify, define, combine, unify, and coordinate project management activities.Foundational
• Project Kickoff MeetingA meeting at the start of planning or execution that communicates objectives, gains commitment, and explains stakeholder roles.Foundational
• Project Life CycleThe series of phases a project passes through from its start to its completion.Foundational
• Project Management Office (PMO)An organizational structure that standardizes project governance and facilitates sharing of resources, methods, tools, and techniques.Foundational
• Project Management PlanThe document that describes how the project will be executed, monitored and controlled, and closed.Foundational
• Project Manager (PM)The person assigned by the performing organization to lead the team responsible for achieving project objectives.Foundational
• Project MilestoneA significant point or event in a project, program, or portfolio with zero duration.Foundational
• Project Procurement ManagementProcesses necessary to purchase or acquire products, services, or results from outside the project team.Foundational
• Project Quality ManagementProcesses for incorporating quality policy into planning, managing, and controlling project and product quality requirements.Foundational
• Project Schedule ManagementProcesses required to manage the timely completion of the project.Foundational
• Project Schedule Network DiagramGraphical representation of the logical relationships among project schedule activities.Foundational
• Project ScopeThe work performed to deliver a product, service, or result with the specified features and functions.Foundational
• Project Scope ManagementProcesses that ensure the project includes all the work required, and only the work required, to complete successfully.Foundational
• Project SponsorThe person or group that provides resources and support for the project and is accountable for enabling success.Foundational
• Project Stakeholder ManagementProcesses to identify, analyze, engage, and monitor people or organizations that can affect or be affected by the project.Foundational
• Relative EstimationEstimating items by comparing them to each other rather than in absolute units.Foundational
• Resource HistogramA bar chart showing the amount of time a resource is scheduled to work over a series of periods.Intermediate
• Resource LevelingResource optimization technique that adjusts start and finish dates to balance resource demand with supply.Intermediate
• Resource Management PlanComponent of the project management plan describing how team and physical resources are acquired, allocated, managed, and released.Foundational
• Responsibility Assignment Matrix (RAM)A grid that shows the project resources assigned to each work package or activity.Foundational
• Return on Investment (ROI)Ratio of net benefit to cost: (gain - cost) / cost, expressed as a percentage.Foundational
• Risk Management PlanComponent of the project management plan describing how risk management activities will be structured and performed.Foundational
• Rough Order of Magnitude Estimate (ROM)An early, low-accuracy estimate typically in the range of -25% to +75%.Foundational
• Schedule BaselineThe approved version of the schedule model, changeable only through formal change control, used as a basis for comparison.Foundational
• Schedule CompressionTechniques used to shorten schedule duration without reducing scope.Intermediate
• Schedule Performance Index (SPI)Measure of schedule efficiency: SPI = EV / PV.Foundational
• Schedule Variance (SV)Measure of schedule performance: SV = EV - PV.Foundational
• Scope BaselineThe approved version of a scope statement, WBS, and WBS dictionary, changeable only through formal change control.Foundational
• Scope StatementDescription of the project scope, major deliverables, assumptions, constraints, and exclusions.Foundational
• Seven Basic Quality ToolsClassic quality tools: cause-and-effect diagram, flowchart, check sheet, Pareto chart, histogram, control chart, and scatter diagram.Foundational
• Source Selection CriteriaAttributes the buyer uses to evaluate and select sellers.Intermediate
• StakeholderAn individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a project.Foundational
• Stakeholder Engagement PlanComponent of the project management plan identifying strategies and actions to promote productive stakeholder involvement.Intermediate
• Stakeholder RegisterProject document containing identification, assessment, and classification of project stakeholders.Foundational
• Status ReportPeriodic report describing where the project currently stands on scope, schedule, cost, risks, and issues.Foundational
• Story PointsA unit of relative estimation representing the effort, complexity, and uncertainty of a backlog item.Foundational
• Sunk CostMoney already spent that cannot be recovered.Foundational
• SWOT AnalysisAnalysis of Strengths, Weaknesses, Opportunities, and Threats of an organization, project, or option.Foundational
• T-Shirt SizingRelative estimation technique using sizes such as XS, S, M, L, and XL.Foundational
• Three-Point EstimatingTechnique that uses optimistic, most likely, and pessimistic estimates to account for uncertainty.Foundational
• Time and Materials Contract (T&M)Hybrid contract with elements of fixed-price (unit rates) and cost-reimbursable (open total value).Foundational
• TimeboxA fixed, maximum period of time for an activity or event.Foundational
• Total FloatThe amount of time an activity can be delayed from its early start without delaying the project finish date or violating a schedule constraint.Foundational
• Trend AnalysisTechnique examining project results over time to determine whether performance is improving or deteriorating.Foundational
• Triple ConstraintThe classic model that scope, time, and cost are interdependent, with quality affected by all three.Foundational
• Tuckman LadderModel of team development stages: forming, storming, norming, performing, and adjourning.Foundational
• Validate ScopeProcess of formalizing acceptance of completed project deliverables.Foundational
• Variance AnalysisTechnique for determining the cause and degree of difference between baseline and actual performance.Foundational
• VelocityThe amount of work, usually in story points, a team completes per iteration.Foundational
• Virtual TeamA group of people with shared goals who fulfill roles with little or no time spent meeting face to face.Foundational
• Waterfall ModelA sequential life cycle where each phase is completed before the next begins.Foundational
• WBS DictionaryDocument providing detailed deliverable, activity, and scheduling information about each component in the WBS.Foundational
• Weighted Scoring ModelSelection method that rates options on criteria, multiplies by weights, and sums the scores.Foundational
• Work Breakdown Structure (WBS)A hierarchical decomposition of the total scope of work to be carried out by the team to accomplish objectives and create deliverables.Foundational
• Work PackageThe work defined at the lowest level of the WBS for which cost and duration can be estimated and managed.Foundational
• Work Performance ReportsThe physical or electronic representation of work performance information compiled to generate decisions or awareness.Intermediate